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Mindax Limited confirms new areas or iron mineralisation at Mt Forrest

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Mindax Limited (ASX: MDX) recently commenced a phase two drilling program at the Mt Forrest Iron project in the Yilgarn province of Western Australia, comprising definition drilling of the three detrital areas identified from the phase one program.

The drilling is testing for the existence of additional detrital iron mineralisation from the surface gravity surveying completed in March 2013, which is all part of Mindax's program to optimise the previously completed DSO Regolith Scoping Study.

Mindax is targeting an increase in the scale of both the mining output and project life by increasing the iron inventory, which is currently 1.7 billion tonnes at 31.8% iron.

Phase two covered 124 holes for 1,815 metres, with assays confirming the presence of four significant beds of detrital material.

The assays are now being used in geological interpretation and modeling to define the extent of the detrital beds, with metallurgical testing also in progress.

Four separate holes were completed exploring for groundwater and intersected reasonable volumes of relatively fresh water.

Dr Steve Ward, managing director and CEO, commented: “This work is a key component of our Optimised Scoping Study for the Mt Forrest Iron Project.

"We are making very good progress and are encouraged by a number of these results. We now look forward to completion of the geological interpretation and metallurgical test work.”


Drill results

Drill results returned indicate the detrital area to the southwest is quite thick, up to 42 metres and has higher grade iron at depth.

Mindax said that the best results include; MFC0505: 12 metres at 40.0% Fe from 0 metres and 19 metres at 43.7% Fe from 23 metres.

The prospect is the largest Detrital area spanning 1,500 metres length by 250 metres width, with an average depth of 15 metres.

The North western Detrital has grown and returned better grades, although it is still deeper.

Best results include hole; MFC0607: 14 metres at 45.3% Fe from 0 metres. Mindax added that the overall scale of this bed is 1,300 metres long by 200 metres width, with 8 metres thickness.

The North eastern detrital is present in two sections. The northern section scale is 450 metres length by 300 metres width with an average depth of 3 metres.

The southern section scale is larger with 970 metres length by 300 metres width and 4 metres depth and includes higher grade Canga iron, intersected in; MFC0551: 5 metres at 53.3% Fe from 0 metres.

 

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